Budget 2017: Announce special sops for MSME sector

By Abhishek Singh

This is an important budget for the country which is likely to have major impact on businesses, common man, and corporate alike. With demonetisation, the Government took a clear and bold step at strengthening India’s economy in the long run, and we hope to see a similar valor in the upcoming budget announcements too. Demonetisation, has brought in a few opportunities particularly in terms of assimilating the informal sector into formal folds, and that needs to be tapped in.

I hope that this year budget will have special sops for the MSME sector as they are not only one of the largest job providers, but also form the backbone of the food processing sector in India. Appropriate tax incentives have to be provided to uplift the dampen spirits of the sector and ensure sustainable growth in the medium term. We also need an atmosphere where consumption is boosted as it will lead to better profitability and efficiency for the food processing industries.

Lastly, I hope that like past year, budget 2017 will continue to be farmer friendly as success of the food processing sector and allied industries depends on the prosperity of the agriculture sector. Rural, infrastructure and skill development through a range of measures and higher allocations will be an important step towards ensuring higher incomes for the farmers and the viability of agri-sector in the long run.

(Abhishek Singh is Director, Manpasand Beverages Ltd)